UGV and Vermilion will drill 6 wells at Ivanivska and Balakliyska areas under draft PSAs

Ukrgasvydobuvannya JSC (UGV) and Vermilion Ukraine Exploration BV will conduct geological exploration and commercial development of hydrocarbon deposits within the Ivanivska and Balakliyska areas located in Kharkiv region. This activity is stipulated by the draft Production Sharing Agreements (PSAs), according to the EIA Register on December 6, 2019.

According to the companies, during the geological exploration phase, a three-dimensional seismic survey (3D), processing and interpretation of the results, and drilling of 3 prospecting and exploration wells at each of the prospective areas are envisaged.

According to this, the planned activity consists in the acquisition of geological data for State Information Geological Fund of Ukraine SE, based on the well drilling, testing, and production. Then a decision will be taken on a plan of action for further development of the fields.

Also, according to the announcement of planned activity in the Ivanivska and Balakliyska areas, the construction of hydrocarbon treatment plants is planned, with further wells’ connection to it.

15:30 / 12 December, 2019

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